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Good Morning all! Ok, I have a 22 year old, single, no children. He only made about $15K at a W-2 job but he cashed in stocks for a total of $78K. His cost basis, short term, was $83K. Does he still qualify for the EIC? That just seems wrong to me. I think I'm just jealous because there were no CTC or EIC when I was young (with kids). We each had to work 2 jobs to get money and pay bills. OK...rant over. 😐
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You think a capital loss should disqualify him from EIC?
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I believe she thinks it’s wrong because of the extra pile of money he has sitting in investments.
Slava Ukraini!
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Yes, what IroNman said. So he does qualify for the EIC even though he received the pile of money from the stock sales? I figured so. Thank you all of you.
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Yes he does qualify. Sometimes life just isn't fair 😉
Slava Ukraini!
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Boy you're not kidding on that one! Thanks
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"even though he received the pile of money from the stock sales?"
But he started with a bigger pile, so it's the same as if he lit some of it on fire.
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